SALAMA completed its capital restructuring programme, restoring its solvency position to meet Central Bank of the UAE (CBUAE) requirements.
The restructuring involved an AED 456 million capital reduction to eliminate accumulated losses and the conversion of an AED 155 million Mandatory Convertible Sukuk (MCS) into new shares.
The company resolved over AED 420 million in legacy exposures and non-admissible assets, including historical impairments and disputed assets.
Strategic institutional investors Eshraq Investments PJSC and Humana Holding Limited fully subscribed to the capital instrument, supporting the company's shift toward growth in core business segments.